A-GRADE OFFICE IN SANDTON Prime Location - Auctioneering · fitted with an evaporative cooling system which cools down and heats up the building. Control panels have been installed

LENASIA PROPERTY AUCTION

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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A-GRADE OFFICE IN SANDTON

Prime Location – William Nicol Drive Exposure! 28 Holt Street l Glenadrienne, Sandton

PROPERTY ON AUCTION

WH Auctioneers Properties (PTY)

Ltd

578 16th Road, Randjespark,

Midrand

Tel: 0115745700

www.whauctions.com

Auction Date & Time: Thursday 3 November 2016 – 12H00

Venue: ON SITE – 28 Holt Street Glenadrienne, Sandton

Auctioneers: Tim Varenzakis

Contact for further info:

Daniel Pelkowitz Cell: 072 360 7510 • Email: [email protected]

Erf 111 Glenadrienne, Sandton

In Association WIth

28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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Index

1. Directions to the Property Page 3

2. Guidelines for the Auction Page 4

3. General Page 5

4. Title Deed Information Page 5

5. Locality Page 6

6. Description of Improvements Page 7

7. Financial Information Page 8

8. Site Photographs Page 9

9. Nearby Redevelopments Page 13

10. Municipal Accounts Page 15

11. Zoning Information Page 17

28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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1. DIRECTIONS TO THE PROPERTY

Directions from Hyde Park Shopping Centre

Hyde Park Corner Jan Smuts Avenue & William Nicol Drive, Hyde Park, Johannesburg, 2196

Head northeast on 6th Rd toward 1st Rd

At the roundabout, take the 3rd exit and stay on6th Rd

Turn left onto 2nd Rd

Turn right onto William Nicol Dr/M81

Turn right onto Mattie Ave

Turn right onto 8th St

Turn right onto Holt St 28 Holt Street Sandton, 2196

28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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2. GUIDELINES FOR THE AUCTION Auction Date & Venue: Thursday, 3 November 2016 @ 12pm at 28 Holt Street, Glenadrienne, Sandton (ON SITE). Registration: Bidders can register at any time prior to auction or from 11 am on auction day at the above mentioned venue. Identity and FICA documents are required in order to register for the auction. All potential buyers are required to pay a registration fee of R50 000 in order to bid at the auction. This amount can be paid either by bank guaranteed cheque or EFT into the Auctioneer’s trust account. Cash will NOT be accepted at the venue. Once registered each buyer will be issued with a buyer’s card reflecting a buyer’s number. Upon signature of the registration documents, all buyers will have acknowledged and accept the Terms and Conditions set out in the Rules of Auction. Registration Fee: R50 000.00 (Refundable to unsuccessful bidders) Deposit: 21.4% of hammer price Confirmation period: 7 business days. Balance of the purchase price payable within 21 business days after confirmation of sale and delivery of the sale agreement to WH Head Office – 578 16th Road, Randjespark Midrand. The bid price excludes the buyer’s premium which is payable over and above the purchase price.

Example: Highest bid with buyer’s premium Bid Price: R 100 000.00 Buyers comm (10%) R 10 000.00 on the Buyer’s Premium R 1,400.00 Total Purchase Price R 111 400.00

The auctioneers have the right to regulate the bidding at the auction and to bid on behalf of the seller up to (but not exceeding) the reserve price as mandated by the seller. When the auctioneer knocks down the property to the highest bidder the successful bidder will sign the Conditions of Sale on the day. A deposit of 21.4% is payable on the fall of the hammer. This percentage is made up of the commission payable by the successful bidder of 10% plus VAT (namely, 11.4%) plus a 10% deposit on the purchase price of the Property. The deposit is payable by way of a Bank Guaranteed cheque or electronic transfer. The deposit and buyer’s premium are deposited into the WH Auctioneers Trust account. For queries regarding the properties on auction contact: Daniel Pelkowitz: 072 360 7510 Joshua Pelkowitz: 072 536 5482 WH Auctioneers offices: 011 574 5700

28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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3. GENERAL Property Address: 28 Holt Street, Glenadrienne, Sandton Erf & Suburb & City: Erf 111 Glenadrienne, Sandton, Gauteng

4. TITLE DEED INFORMATION Deeds Office: Pretoria Title Deed No. T43776/2008 Erf Size: 1 326m2 GLA: Approx. 420m2 Zoning Information

The owners of the subject property previously owned the adjacent property (Erf 112). The original zoning of the

property was residential 1 however an application was made to rezone erf 112 to ‘Special’ which was upheld as

per the attachments below. Upon purchasing Erf 111, the owners made the same application to rezone the

property from Residential 1 to ‘Special’ after numerous appeals, it was agreed that the property would not be

rezoned to ‘Special’ but would instead be zoned as ‘Business 4’. The supporting documents in this regard are

attached below. Despite numerous requests from the owners and their town planner, an updated zoning certificate has not been provided by council.

See attached documents for further information. Zoning: Business 4 Coverage: 50% FAR: 0.35 Height: 2 Storeys Parking: 4 Bays/100m2

28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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5. LOCALITY The subject property is located in Holt Street Glenadrienne a suburb located in the township of Sandton. Sandton is an affluent area situated within the metro of Johannesburg, Gauteng, South Africa. The Sandton Central commercial node, centred on the suburbs of Sandown and Sandhurst has some of the best and most expensive commercial properties and offices in South Africa. A number of new developments are underway including 6 Benmore (Capital Hill), Atrium on 5th, Alice Lane and Katherine and West which is situated directly opposite the Sandton Gautrain Station. One of the highest rated Green buildings in South Africa, the Upper Grayston Office Park, is located in Sandton.

Holt Street is fast becoming an exclusive, secured business enclave in the heart of Sandton. The precinct is a sought after node owing to it's easy access and close proximity to the centre of South Africa's business hub and easy access to the main arterial roads. More recently, properties in Holt Street have been rezoned Business 4. One modern office block has been constructed at 16 Holt Street. Further up the street two adjacent houses have been demolished to make way for a second larger planned office development. 24 Holt Street is currently being converted from a residential dwelling to an office. Pictures of these developments are attached below. The property is in close proximity to major arterial routes including William Nicol, Sandton Drive, Jan Smuts Avenue and Republic Road. The property in fact borders William Nicol Drive which provides potential for advertising along the street. The GPS Co-ordinates of the property are as follows: S – 26˚09’50.75”

E – 28˚03’16.68”

28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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6. DESCRIPTION OF IMPROVEMENTS The subject property comprises A-Grade office space. The property measures 1 326m2 with an approximate built area of 420m2. The property is currently “owner occupied” however, the owners do pay a monthly rental of R100/m2. The building will be vacant at the date of sale. Office Area The office section of the building measures approximately 420m2 and consists of 5 private offices, 2 large open plan office areas, 2 boardrooms, a reception area, storerooms, kitchen facilities, a strong room/safe, a patio/braai area and ablutions. The open plan office space was built onto the existing structure after the property was purchased by the current owners in 2008. Both internal and external walls are plastered and painted brickwork while some internal walls have been left as unfinished face brick for design purposes. Floors comprise slate tiles, ceramic tiles, polished concrete and carpeted floors in the office area. Internal ceilings consist of prefabricated dropped ceiling boards and cornices as well as exposed roof trusses in the open plan office area which have been painted. The main structural roof is a pitched roof with clay roof tiles supported by wooden roof trusses. The kitchen area has granite tops and built in cupboards while the patio has a braai area. The building has been fitted with an evaporative cooling system which cools down and heats up the building. Control panels have been installed in the office areas. The building has full wireless internet access as well as wired landline internet access throughout. The server room is located in the strong room.

SANDTON DRIVE

28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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General In general, the property appears to be in a very good condition and has been maintained well by the owners. The roof and gutters appear to be in a good condition. A structural survey of the building has not been undertaken and will not form part of this report. All structural and maintenance information are as per information provided by the owners upon visiting the site. There is a garden and small fountain within the premises which is well maintained by the owner. Parking Lot

There are 2 parking areas with enough space to accommodate 19 vehicles. The top parking area is finished with cement brick paving while the lower parking area is stone gravel.

Site Access and Security

Access is gained to the site via the main motorised access gate on Holt Street. The gate opens automatically upon exit. The property is secured by 24-hour off site security as well as electric fencing along the perimeter wall. The perimeter wall on Holt Street is plastered and painted brickwork while the wall along William Nicol Drive is precast cement walling. The area is also secured by a boom gate system which is an initiative managed by the residents of the area at a cost of R500 per month.

Summary

Roof: Pitched roof with clay roof tiles supported by wooden roof trusses.

External Walls: Plastered and painted brickwork and cement walling

Internal Walls: Plastered and painted brickwork

External Floors: Brick paving

Internal floors: Ceramic tiles/Slate Tile/Polished Concrete/Carpet

Condition: The property appears to be in a very good condition and has been maintained well by the owners. The roof and gutters appear to be in a good condition. A structural survey of the building has not been undertaken and will not form part of this report. All structural and maintenance information are as per information provided by the owners upon visiting the site.

7. FINANCIAL INFORMATION The property is owner occupied but the owner does pay a rental for the building. Market research indicates rentals for similar properties in the area are between R100/m2 and R120/m2. Rental rates are dependent on the size, age and condition of the property. The owners have not been able to provide the exact monthly expenditure figures however, based on market research as well as information received from the owners, expenses for similar properties in the area range between 15% and 20% for gross annual income. Water and electricity are read by council and billed on a monthly basis. The owners are responsible for all building and maintenance expenses.

28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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8. SITE PHOTOGRAPHS

28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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9. NEARBY REDEVELOPMENTS

24 Holt Street being converted into office space

22 Holt Street – complete redevelopment into office space

28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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16 Holt Street – newly constructed offices

28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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10. MUNICIPAL ACCOUNTS

28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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11. ZONING INFORMATION

28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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28 Holt Street – Glenadrienne, Sandton

The auction is conducted in terms of the Regulations relating to auctions contained in The Consumer Protection Act 68 of 2008 and notice is given that all sales are subject to a minimum reserve unless otherwise stated. Descriptions mentioned herein are not guaranteed by the auctioneers and are as supplied.

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